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To
analyze whether an action is viable or not, a cost benefit analysis
is acquired from the web, then, the cost benefit analysis is performed.
Following the cost benefit analysis template, companies, or other
organizations for that matter, determine the "costs"
and "benefits" of their proposal.
These factors are quantified in terms of their value to the outcome
of the action. Benefits pertain to all the possible positive outcomes
of the action. They are usually of monetary value. On the other
hand, costs are the negative effects an action could cause if
it is accomplished. Costs are also described in economic terms
as the people's willingness to sacrifice something to avoid something.
The total costs are then subtracted from the sum of the benefits.
This way, the company can see through the cost benefit analysis
template if the benefits outnumber the costs.
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